TITLE
Recommendation to adopt resolution authorizing the acquisition of a tax-defaulted property, Assessor Parcel No. 7269-017-009, in the City of Long Beach from the County of Los Angeles; authorize City Manager to execute a Chapter 8 Agreement and any and all documents necessary for the acquisition of the tax-defaulted property; and authorize City Manager to execute all necessary documents for the conveyance of Assessor Parcel No. 7269-017-009 to the Long Beach Housing Development Company. (District 1)
DISCUSSION
In May 2007, the Los Angeles County Treasurer and Tax Collector (County) released a list of properties to be included in the 2007B Public Tax Auction (Auction). These properties have been tax-defaulted for non-payment of property taxes and deemed Subject to Power to Sell by the County. Prior to conducting the Auction, the County grants local governmental agencies an opportunity to request acquisition of these properties via a Chapter 8 agreement (Agreement), if a public need can be determined.
An Agreement is provided under the California Revenue and Taxation Code, Division 1, Part 6, Chapter 8, which outlines the provisions for the acquisitions of properties by a public agency.
City staff has reviewed and identified one parcel for City acquisition. The Long Beach Housing Development Company (LBHDC) has requested this parcel for the development of affordable housing. Upon acquisition by the City, this parcel will be conveyed to LBHDC. A listing of the parcel and acquisition cost is attached as Exhibit "A" with a corresponding map as Exhibit "B". Additional fees of approximately 15 percent will be charged for the parcel for administrative and processing costs.
The Department of Community Development, on behalf of the City, submitted a written request to the County for an Agreement for the purchase of this property. In order to proceed, the County requires that the City Council adopt a resolution authorizing the acquisition of tax-defaulted property...
Click here for full text